South Bend, Muncie stores added to Big Lots closure list
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Big Lots is closing more stores—including two in Indiana—as it works through the Chapter 11 bankruptcy process. The discount retailer has previously announced the closure of seven stores in the Hoosier State, which are among now around 450 nationwide set to close.
According to a Sept. 27 bankruptcy court filing, Big Lots named an additional 58 stores set to close, Fast Company reported.
Those stores include the locations at 1911 E. Ireland Road in South Bend and 1795 West McGalliard Road in Muncie.
The Columbus, Ohio-based company filed for Chapter 11 bankruptcy in early September, citing high inflation and interest rates that have hurt its business as consumers have pulled back on their home and seasonal product purchases, two categories the chain depends on for a significant part of its revenue.
Big Lots plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.
Indiana has more than 40 Big Lots locations, with a dozen of those in the Indianapolis area. Earlier this year, Big Lots said the Indianapolis store at 8401 Michigan Road would be closing along with stores in Kokomo, Elkhart, Fort Wayne and Warsaw.
Two additional central Indiana stores—6225 Allisonville Road in Indianapolis and 1930 Conner Street in Noblesville—were marked for closure last week.
A specific timeline for when the South Bend and Muncie stores would shut their doors for good was not provided.